Pawn Shops: Buying Monitors And More

Pawn shops are a great way to save money when purchasing electronics. They deal in both new and used electronics, but you can save even more money by buying second-hand. Computer monitors are among the electronics that pawn shops frequently purchase. The average price for a used computer monitor online is between $200 and $300. Pawn shops will typically pay 30% to 50% of the current market price for a used computer monitor, depending on the brand and condition.

How much do pawn shops pay for monitors?

Pawn shops do buy computer monitors, and the amount of money you can make from pawning them depends on several factors. On average, pawn shops pay between 10% and 20% of the current market price for an item. However, this can be as high as 30% to 50% for a used computer monitor, depending on the brand and condition. For example, a pre-owned Samsung monitor with a market price of $449 might fetch around $225 at a pawn shop.

The amount of money you can get will depend on the brand or model of your monitor, as certain brands are more expensive and relevant in the market. Monitors from brands like Dell, Acer, HP, Samsung, Asus, and LG are in higher demand.

Older models won't fetch the same price as newer ones, but that doesn't mean you can't get a fair price for an older model. Pawnbrokers pay more for monitors that are in good condition, so be sure to check your device for any dents or other damage before taking it to the pawn shop. A clean monitor will also get you a better offer.

To get paid more for your used computer monitor, make sure it's in perfect working condition. It's also a good idea to check the market price on sites like Facebook Marketplace, eBay, and Craigslist, and have an ID with you when you go to the pawn shop.

What factors affect the price pawn shops will pay for monitors?

The price that pawn shops are willing to pay for monitors is influenced by several factors. Here are some of the most significant ones:

Market Forces of Supply and Demand

The price of a pawn item increases when demand is high. Conversely, the price falls when the item becomes more readily available. Monitors from brands like Dell, Acer, HP, Samsung, Asus, and LG are in higher demand and will therefore command a higher price.

Condition of the Monitor

The better the quality and condition of the monitor, the higher the value and price. Pawnbrokers pay more for monitors that are in good condition and have minimal dents, bruises, or any other damage. A clean monitor will also get you a better offer.

Age of the Monitor

Most pawnable items lose their worth as they get older. However, some items, like antiques and collectibles, may become more valuable with age due to rarity, superior performance, or special features, provided they are kept in good condition. Older models can still get a fair price, but newer models will have a higher price.

Time of the Year

Pawn shops have a peak season, which affects the prices of their inventory. For example, jewelry prices tend to be higher in December and January as people shop for gifts. If sales are low, pawn shops may offer steep discounts to reduce their inventory.

Buyer-Seller Negotiations

Pawn shops are usually open to negotiating the price of an item, especially if it is a slow-moving item. Doing research and knowing more about the market will put you in a better position to negotiate.

Competition

Pawn shops consider the prices of their competitors when setting prices for their items. They may set lower prices to attract more customers or sell items at fair and honest prices. Shopping around at multiple pawn shops can help you find better deals.

Current Market Price

The current market price for a monitor affects how much pawn shops are willing to pay. On average, pawnbrokers pay between 10% and 20% of the current market price for an item, but this can vary depending on other factors.

How to get the best price when selling a monitor to a pawn shop

Pawn shops do buy computer monitors, and there are several factors that determine how much you can sell your monitor for. Here are some tips to help you get the best price when selling a monitor to a pawn shop:

Know the Market Value

Before heading to the pawn shop, it's important to have an idea of how much your monitor is worth. Check online marketplaces like Facebook Marketplace, eBay, and Craigslist to see what similar monitors are selling for. This will give you a baseline for negotiating with the pawnbroker.

Brand and Model Matter

Certain brands and models of monitors are more sought-after than others. Monitors from brands like Dell, Acer, HP, Samsung, Asus, and LG tend to have higher demand and may fetch a better price. Keep in mind that older models may not bring in as much as newer ones, but you can still get a fair price for an older model if it's in good condition.

Ensure Optimal Condition

Pawnbrokers pay more for monitors that are in good working condition. Make sure your monitor is clean and free of any dents, scratches, or other damage. A well-maintained monitor indicates that it has been cared for and may command a higher price.

Understand the Pawn Shop's Perspective

Pawnbrokers need to make a profit when they resell your item. They will consider the current market price, the popularity of the brand, and the condition of the monitor when determining how much they can offer. Remember that you may not get the full value of your monitor, as the pawnbroker needs to resell it for a profit.

Shop Around

Don't settle for the first offer you receive. Visit multiple pawn shops and get quotes from several brokers. This will give you a better understanding of the market value for your monitor and may even spark a bidding war, resulting in a higher selling price.

Be Prepared to Negotiate

Pawn shops are often open to negotiation, so don't be afraid to haggle a little to get a better price. However, keep your expectations realistic, as pawn shops need to resell the item at a profit.

By following these tips, you can increase your chances of getting the best price when selling a monitor to a pawn shop. Remember to clean and care for your monitor, be aware of its market value, and don't be afraid to shop around and negotiate to get the most favourable deal.

How much money can you get from pawning a monitor?

Pawn shops do buy computer monitors, and the amount of money you can get for pawning one depends on several factors. On average, pawn shops pay between $200 and $300 for a used computer monitor. However, the amount you receive will likely be between 30% and 50% of the monitor's value, depending on the brand and its condition. For example, if a brand new Samsung Monitor costs $684, an open box one costs $569, and a pre-owned one costs $449, you can expect to get around $225 for it at a pawn shop.

The current market price for the monitor will also affect how much a pawn shop will pay, as will the specific pawn shop and the availability of similar products. Some monitors are more popular than others, and certain brands, such as Dell, Acer, HP, Samsung, Asus, and LG, are in higher demand. Therefore, these brands may fetch a higher price at a pawn shop.

Additionally, older models will not command the same price as newer ones, but that doesn't mean you can't get a fair price for an older monitor. The condition of the monitor is also crucial, as pawn shops pay more for those in good condition. Ensure your monitor is clean and free of any dents or other damage before taking it to the pawn shop.

It's worth noting that pawning your monitor means putting it up as collateral for a loan, which you are expected to pay off with interest. If you fail to do so in time, the pawn shop can sell your monitor. Alternatively, you can choose to sell your monitor outright, which is usually more profitable but prevents you from buying it back unless you pay the full price.

What are the pros and cons of pawning versus selling a monitor?

When it comes to deciding between pawning and selling a monitor, there are several pros and cons to consider for each option.

Pawning Your Monitor

Pawning your monitor involves putting it up as collateral for a loan. The broker will assess the value of your monitor and determine how much they can lend you. You will then receive a loan, which you are expected to pay back with interest. Your monitor will be kept in the pawn shop until you pay back the loan, including any interest accrued.

Pros of Pawning:

• You can retain ownership of your monitor. Pawning allows you to release the value of your asset without losing ownership. The pawnbroker will securely store your monitor and return it to you at the end of the loan period if you repay the loan.
• No credit checks or impact on your credit score. Pawning does not require affordability or credit checks, and there is no impact on your credit score, even if you miss a payment.
• Quick access to funds. Pawn shops can provide funding within 24 hours, making it a faster option compared to selling, which may involve auctions or online marketplaces.
• Possibility of reclaiming your monitor. With pawning, you have the chance to get your monitor back if you repay the loan in full.
• Flexibility in repayment options. Depending on the pawn shop, you may have some flexibility in repayment options and interest rates.

Cons of Pawning:

• Lower payouts. You will typically receive a lower amount for pawning your monitor compared to selling it. Pawn shops usually offer a percentage of the monitor's value, which can range from 10% to 50% of the current market price.
• Risk of losing your monitor. If you are unable to repay the loan and interest by the end of the agreed loan period, you could permanently lose your monitor.
• Loss of possession during the loan period. While your monitor is pawned, you will not have access to it, as it will be held securely by the pawnbroker as collateral for your loan.
• Additional fees and interest. Over time, if you do not repay the loan in full, you may incur additional fees and interest.

Selling Your Monitor

Selling your monitor involves exchanging it for cash, usually at a pawn shop or electronics store. You will receive a one-time payment for the monitor, and the transaction is complete.

Pros of Selling:

• Higher payouts. Selling your monitor will typically result in a higher payout compared to pawning. You can seek the full market value or a significant portion of it.
• No repayments. Selling does not involve any loan repayments, so you don't have to worry about paying back the money or accruing interest.
• Quick disposal of unwanted items. If you have a monitor you no longer need or want, selling allows you to dispose of it and receive money in return.
• No ongoing financial worries. With selling, you receive the cash in one sum, so you don't have to worry about regular payments or interest fees.

Cons of Selling:

• Loss of ownership. Once you sell your monitor, you will lose ownership of it permanently. If it holds sentimental value or is a rare item, this can be difficult.
• Potential regret. Depending on the value of the monitor and the amount of money received, you may later regret the decision to sell it.
• Selling for the highest price takes time. Seeking the highest price may involve auctions or online marketplaces, which can be time-consuming, and there is no guarantee that you will secure the best outcome.
• Seller commissions and fees. Selling through marketplaces or auction houses may incur commissions and fees, reducing your overall profit.

Frequently asked questions